Babcock and Brown unveil big profit

The acquisition of aircraft, property and power plants has boosted Babcock and Brown profits.

Transcript

ALI MOORE: Better news today, though, for the investment house which is sometimes called the 'Mini Macquarie'. Babcock & Brown has unveiled a 55 per cent rise in first half earnings. Acquisitions of aircraft, property and power plants boosted profits to $121 million. Despite upgrading its earnings per share guidance for this calendar year, investors sold out of the stock. Its shares shed over 2.25 per cent, closing at $19.77.